(CNN) - Newsweek magazine got some unsolicited PR Wednesday from President Obama, but it wasn't exactly a ringing endorsement of periodical's latest issue.

At a North Carolina town-hall health care event, Obama asked if anyone had seen the latest cover of Newsweek that boldly declares, "The Recession is Over!"

"I don't know whether you've seen the cover of the latest Newsweek magazine on the rack at the grocery store, but the cover says: 'The Recession is Over,'" the president said as part of his prepared remarks at the event.

"I imagine you might have found that news a little startling," Obama continued. "I know I did."

Obama went on to say while certain indicators are improving, like the stock market and home sales, "That's little comfort if you are one of the folks who have lost their job."

The article in question - with the sub-headline of 'Good Luck Surviving the Recovery' - actually says much the same as Obama did Wednesday - that leading indicators appear to suggest the recession is nearing an end, but the recovery is likely to be a slow process.

"When economists proclaim a recession over, they're celebrating a technicality: they mean economic output has stopped contracting," Newsweek's Daniel Gross writes. "And while that is good news, you might wait a while before adding Judy Garland's rendition of 'Happy Days Are Here Again' to your iPod."

UPDATE: Gross has issued a response to the president in a posting on Newsweek.com entitled, "Obama rips Newsweek's cover. We rip back."

"The article notes—as Obama's speech does—that the discussion surrounding the end of the recession is largely a technical discussion ("GDP growth alone can't feed a family, or a pay a mortgage") and that we face tough economic times and a recovery that will feel a lot like a recession," says Gross.

"It's common to hear journalists complain of being overworked. And in this case, it's true. In addition to writing the first draft of history, we seem to be writing the first draft of the president's speeches," he also says.

soundoff(177 Responses)

James M. Holmes

I find it hysterical that all the NeoCons are crying the "sky is falling" everyday with Obama in charge... If these idots and their GOP puppetmaster really knew anything about the economy, why are we in this mess in the first place?

Sorry 29%ers – you have NO CREDIBILTY anymore! YOUR policies brought about this recession... and it scares the daylights out of you that Obama is being successful in pulling us out of it!

Typical NeoCons – loyality to party over country!

July 29, 2009 04:25 pm at 4:25 pm |

charlie in Maine

To really end this thing in a lasting way we will need healthcare reform. But I am glad someone thinks it is over.

July 29, 2009 04:26 pm at 4:26 pm |

Georgian

Gee republicans – such hate for your commander in chief for commenting about a headline, or wearing mom jeans, or for being born for Pete's sake.

So who is un-American now?

July 29, 2009 04:26 pm at 4:26 pm |

independent Jim

The sad thing is the generation that allows its elected officials to solve these problems by literally throwing buckets (maybe even dump trucks) of money at them will pay for it in the end. The kids who voted for a rock star will still be paying for these problems and the multi-trillion dollar deficits long after the rest of us are gone. No such thing as a free lunch, guys....

July 29, 2009 04:26 pm at 4:26 pm |

George

"Don't waste a crisis", or so said Obama's chief of staff. Obama's biggest fear is that the economy improves before he can get all his "emergency powers" legislation passed.

And, of course, an economy that can improve so fast is obviously one that wasn't in bad shape to begin with, so he'd have a very hard time taking credit for fixing something that wasn't really broken. When will people realize we all had more of an economic panic attack than a real-live meltdown?

Of course he mocked the cover...

July 29, 2009 04:27 pm at 4:27 pm |

TCM

With Obama in office, it should have read, "The recession is just gearing up..."

CNN – you jump to post articles about every single thing OBama does; reminds me of a gossip rag.

July 29, 2009 04:28 pm at 4:28 pm |

Michelle

I can't believe all the negativity from this crowd. President Obama is an intelligent caring President who is trying to dig us out of a mess the last idiot and his croanies got this Country into.

July 29, 2009 04:31 pm at 4:31 pm |

Susie

Poor Obie is MAD he can't control EVRYONE!!! Thanks, Newsweek. We, the people, don't believe any of this manure the man is SHOVELING!!! Maybe he should shut up and LISTEN for a change!!!!

July 29, 2009 04:31 pm at 4:31 pm |

dan the man

We need to remeber that this is a mess that the democrats have to clean up, not one that they caused. Republicans want to eat babies complain that democrats are running the economy into the ground when in reality it was their lack of regulation and business as usual tactics that got our country into this mess in the first place.

July 29, 2009 04:31 pm at 4:31 pm |

Dutch/Bad Newz, VA

If john McCain were in office the artice would read "We're in a Deeper Recession."

July 29, 2009 04:31 pm at 4:31 pm |

JA/TN

maybe their recession is over, remember the fat cats were bailed out

July 29, 2009 04:33 pm at 4:33 pm |

Ronald Reagan

"why, oh why, do the republicans who comment on here continuously show how childish they are? their escalating language does no good and only serves to push people away. they are NO help to anyone. too bad they don't seem to realize that. it'd be nice if they could just work WITH the rest of the country instead of AGAINST it."

Jim, one of the wisest things I have read ina blog in weeks. I swear people who write in this garbage have no comprehension of how bad things could ahve been. -and... hate to say this but at least some Bush advisor told him that if he doesn't do a bailout, he will be responsible for the 2nd great depression... at least he heard that message.... maybe Cheeney can give back some of his companies trillion dollars to america...

July 29, 2009 04:33 pm at 4:33 pm |

Steph

"Obama is unprofessional, arrogant and condescending. What a guy!
He's too wet behind the ears for the job." Ok Patster, why dont you put McCain, Palin or Limbaugh in the oval office. Would they do a better job?

July 29, 2009 04:34 pm at 4:34 pm |

Lynda/Minnesota

To bad the media couldn't have been as vigilent when the economy was tanking, rather than ignoring the signs year after year after year.

It might have helped settle the "who did what when" controversy the GOPers seem to have such trouble understanding.

July 29, 2009 04:35 pm at 4:35 pm |

Dan, TX

It is time to sell all your stocks, the crash is coming. Sell now while you had a chance. All my friends are getting out of the market, you should too.

July 29, 2009 04:36 pm at 4:36 pm |

Zero.

"Credit" Is not easy to come by, even if your a "Walter Mitty" President who loves to dream...

July 29, 2009 04:36 pm at 4:36 pm |

James M. Holmes

I find it hysterical that all the NeoCons are crying the "sky is falling" everyday with Obama in charge… If these idots and their GOP puppetmaster really knew anything about the economy, why are we in this mess in the first place?

Sorry 29%ers – you have NO CREDIBILTY anymore! YOUR policies brought about this recession… and it scares the daylights out of you that Obama is being successful in pulling us out of it!

Typical NeoCons – loyality to party over country!

July 29, 2009 04:37 pm at 4:37 pm |

Bananarama Victim II: Electric Boogaloo

How is it that while the GOP is off-duty from running (ruining) the country, they resort to their wits like conspiracy theorists?

And that being the case, how can anyone take you seriously? You asked for more time, more room, and more loyalty with Bush but are Patriotic in wanting Obama to fail.?

I'm not surprised. I'm just astonished that you don't even try to veil your bias and your hatred during your ill-informed rants that have no solution attached to the criticism.

If you're the party of "responsibility," like you claim to be, prove it. Go out there and do something productive like your father did when things were rough. I doubt he sat in the comforts of his home angerly shaking his fist at the radio or TV. You know, "patriotism."

July 29, 2009 04:37 pm at 4:37 pm |

annie s

We have someone refreshing and so very different in this President – someone who is honest with the people he serves and who doesn't sugarcoat the truth because it's the easy way out. President Obama's policies ARE beginning to work (sorry Repubs, I know you really need for America to fail so you can get conservatives back in power), but it's a slow process. Having this man lead us gives me confidence we will succeed.

July 29, 2009 04:38 pm at 4:38 pm |

Jeff

....for all those that say "Maybe Newsweek is doing their part to lift the countries mood with a little reverse psychology." or have a similar attitude; would you be willing to agree the media helped cause this recession??? In the long historical run, fair minded economists will see this was a media caused recession. I for one believe the media exasperated (exploited maybe) a normal economic cycle for political gain.

July 29, 2009 04:38 pm at 4:38 pm |

champie

Isn't it clear that Newsweek was mocking the idea that the recession is over? Doesn't it say a great deal about our president that he would give the cover a glance and then make determinations that fall as far from the actual thrust of the IMAGE and the article. My point is that you don'e even need to rad the article. Look at the picture of a balloon (bubble) and a pin, not to mention the * and the "Good Luck Surviving the Recovery" caveat.

Am I wrong?

July 29, 2009 04:39 pm at 4:39 pm |

JRS

Obama will take a yet another vaction that we as tax payers pay for while I work 2-3 jobs and stay home....Yep...he is doing a great job for all of us.....duh...

July 29, 2009 04:39 pm at 4:39 pm |

Todd

It is so strange....I actually miss Bush!!!! Obama is starting to show his true colors...and they are quite racist. He is going to spend all the money we have and all the money we don't have. Get ready to turn Chinese. This man is absolutely NO friend of America. He will bring it down. He is doing it so fast because he doesn't even care if he gets re-elected. He just wants to ruin the country fast. The less you do in Obama's America, the more you get. That is a fact and that is the way Obama wants it.

July 29, 2009 04:40 pm at 4:40 pm |

cph9680

Maybe Newsweek should become President, they're offering more hope than Ozombie